Ethereum Faces Resistance at $2,400 Amid Price Surge
- Ethereum price surged above $2,365 and reached a high of $2,417 before correcting.
- The price is trading above $2,300 and the 100-hourly Simple Moving Average.
- Immediate resistance levels are near $2,360, with major resistance at $2,400.
- A move below the $2,300 support could push the price toward $2,270.
Ethereum’s recent surge above key levels indicates bullish momentum but faces significant resistance at $2,400. The current trading position above the Simple Moving Average suggests potential for further gains if resistance is cleared.
If Ethereum fails to break past the $2,400 mark, it risks a downside correction towards the support level of $2,270. Source
